Is this way good for CD quality music

Store my music in .wav on external hard drive. Hard drive connected to Boxee box and the optical digital out from boxee goes to my Lexicon MC12, and then play music on Ushers 8871.
I had a problem with iTunes and WAV - it appears metadata is an issue.
Seems that iTunes can build a "library" from a CD, but what metadata is gathered on import is not stored in the WAV files but in an internal database

If the database built by iTunes when a CD is loaded into the "library" gets corrupted, like mine did, then the only way to recover from that is to reload - all 400+CD's - there was no way to rebuild the database.

I convert all WAV to AIFF when I load from CD's - which I believe supports more metadata than WAV.

I can now simply re-import the music data files into itunes and the database and folder hierachy is restored. I tried it on a few albums before committing to AIFF and it worked fine.

Something they omit from the iTunes manual - if they had one :-)